Deposit Account Control. The Borrower shall cause each of its Deposit Accounts (other than (a) any Deposit Account that is a payroll, withholding tax, or tax trust or fiduciary account, so long as the Borrower and its Subsidiaries do not deposit or maintain funds in such payroll accounts or tax accounts in excess of amounts necessary to satisfy current payroll liabilities, payroll taxes or other wage and benefit payments, and (b) any Deposit Account that Administrative Agent determines is not material) to be a Controlled Account.
Appears in 2 contracts
Sources: Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.), Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.)
Deposit Account Control. The Borrower shall cause each of its Deposit Accounts (other than (accccc) any Deposit Account that is a payroll, withholding tax, or tax trust or fiduciary account, so long as the Borrower and its Subsidiaries do not deposit or maintain funds in such payroll accounts or tax accounts in excess of amounts necessary to satisfy current payroll liabilities, payroll taxes or other wage and benefit payments, and (bddddd) any Deposit Account that Administrative Agent determines is not material) to be a Controlled Account.
Appears in 1 contract
Sources: Uncommitted Credit Agreement (A-Mark Precious Metals, Inc.)